Yes. But maybe Reddit is not the best benchmarck due to their user-hostile behaviour anyway (well, maybe it is "best" because of this). The only purpose of mobile website is to make the user to download their app.

I use Safari for Reddit because of the SinkIt extension:

https://apps.apple.com/gb/app/sink-it-for-reddit/id644987363...

This is due to built in content blockers. You can disable them on reddit and it will load fine.